Who do you want to inherit your possessions when you pass? Where do you want your property to go? Is there something special you’d like to hand down to a particular person?
Fail to consider these questions, and they’ll be answered for you by someone else.
That’s why a will is so important – it keeps you in complete control.
things to think about…
writing a 'will'
This is a common misconception. Your definition of a close relative won’t necessarily be the same as the government’s, and those without a will are subject to rules around who inherits what and how much.
Not at all. Anyone over the age of 18 can make one; just draw up a list of your assets and decide how you’d like to distribute them. Remember to appoint an executor to carry out the instructions, and sign it in the presence of two witnesses.
When you pass away without a valid will (known as dying intestate), the government decides where your assets go.
This often causes arguments amongst family members, and people receive far less than they were supposed to. Not exactly the kind of legacy you want to leave behind.
Wills are also used for after death requests as well as assigning assets. In your will, you can:
- Ask for your body to be handled in a certain way (burial, cremation etc)
- Make funeral requests
- Appoint guardians for children or pets
- Ensure provisions are made for dependent children
when someone dies
Estate administration involves handling a deceased person’s assets (property, belongings, cash etc).
Any debts are automatically removed from the estate, and the executor is tasked with making all the necessary calls to ensure everything is handled correctly.
You’ll need to know about probate if you’re the executor of a will.
Basically, probate involves a legal document that gives you the authority to deal with a loved one’s estate. This can be:
- A Grant of Probate (if they died with a will)
- Letters of Administration (if they died without a will)
You’ll need a Grant of Probate or Letter of Administration to gain control of your loved one’s estate and ensure possessions are allocated accurately.
If your loved one had less than £5,000 in assets, however, probate may not be necessary.
You can either get in touch with the local Probate Registry (which requires lots of form completion and an interview), or apply through a legal professional like forethought – who handle as many of the duties as possible.
how forethought can help
We handle the role of executor for you, taking away the stress. It’s not an easy role by any means, and we can ensure everything is handled correctly in the best possible way.
Forethought Estate Planning is different in how we care for our clients.
Your dedicated Case Handler will administer your estate and visit your next of kin in the comfort of their own homes, supplying progress reports to keep you informed.
Our fees are extremely competitive. We provide a fixed fee for probate based on the value of the estate, and issue a lifetime guarantee that this price will remain fixed until Probate is required.
We will do everything we can to make the whole process as quick and as stress-free as possible. In most cases, estates are completely settled within several months.
Looking for more information? No problem. Give us a call today on 01565 656 619.
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